Air Arabia continues its growth story, posts net profit of $123 million

Air ArabiaAir Arabia, a leading airline in UAE, announced its financial figures for the year 2009, reporting a net profit of 452 million UAE dirhams as compared to 454m dirhams in the previous year. The figures are more than satisfactory in the wake of tough period for the aviation sector in 2009 and it represent the high level of efficiency shown by the airline during the challenging period.

Commenting on the performance of the airline, Chairman Shaikh Abdullah bin Mohammad Al Thani said, “The previous 12 months represented one of the most challenging periods in the history of the global aviation sector, as pressure on yields increased significantly as a consequence of the worldwide financial crisis."

Airline’s turnover declined 4.5 per cent in 2009 to stand at two billion dirhams against 2.066 billion recorded in 2008. A total of 4.1m passengers availed its services in the year reporting an increase of 14.2pc compared to 2008.

The airline registered an impressive seat load factor of 80 per cent despite great instability in the industry.

Shaikh Abdullah, projecting a positive outlook for 2010, said that the airline would continue to focus on highest-quality services in 2010 for registering sustained growth rate and business expansion.